Peter Norman Sørensen Professor of Finance PhD Program Director Department of Economics University of Copenhagen Øster Farimagsgade 5, Building 26 DK-1353 Copenhagen K Denmark Tel. +45 3532 3056 Fax. +45 3532 3000 Email peter.sorensen@econ.ku.dk

• CV and Research Papers
• Teaching
• Links

CV and Research Papers

Brief CV

• Professor of Finance, Department of Economics, University of Copenhagen, 2006-present.
• Associate Professor, Department of Economics, University of Copenhagen, 1999-2006.
• Assistant Professor, Department of Economics, University of Copenhagen, 1998-1999.
• Prize Research Fellow at Nuffield College, Oxford, 1995-1997.
• PhD in Economics, Massachusetts Institute of Technology, 1996.
• MSc (cand. scient. oecon.) in Mathematics and Economics, University of Copenhagen, 1992.

Publications

• Pathological Outcomes of Observational Learning, with Lones Smith: pdf (437 kB), postscript (468 kB). Published in Econometrica volume 68(2), March 2000, 371-398.
• Herd Behavior and Investment: Comment, with Marco Ottaviani: pdf (155 kB), postscript (174 kB). Published in the American Economic Review volume 90(3), June 2000, 695-704.
• Information Aggregation in Debate, with Marco Ottaviani: pdf (239 kB), postscript (315 kB). Published in the Journal of Public Economics volume 81(3), September 2001, 393-421.
• Professional Advice, with Marco Ottaviani: pdf (308 kB). Published in the Journal of Economic Theory, volume 126(1), January 2006, 120-142.
• Reputational Cheap Talk, with Marco Ottaviani: pdf (354 kB). Published in the Rand Journal of Economics, volume 37(1), Spring 2006, 155-175. [Click here for supplementary material on deviation incentives, interim evaluation, and mixed incentives contained in earlier drafts.]
• The Strategy of Professional Forecasting, with Marco Ottaviani: pdf (396 kB). Published in the Journal of Financial Economics, volume 81(2), August 2006, 441-466.
• Simple Utility Functions with Giffen Demand: pdf (123 kB). Published as Exposita Note in Economic Theory, volume 31(2), May 2007, 367-370. The original publication is available at www.springerlink.com.
• Outcome Manipulation in Corporate Prediction Markets, with Marco Ottaviani: pdf (147 kB). Published in the Journal of the European Economic Association, volume 5(2-3), April-May 2007, 554-563.
• The Favorite-Longshot Bias: An Overview of the Main Explanations, with Marco Ottaviani: pdf (232 kB). Published in Handbook of Sports and Lottery Markets, edited by Donald B. Hausch and William T. Ziemba, North-Holland, Amsterdam, 2008, pages 83-101.

Forthcoming Publications

• Surprised by the Parimutuel Odds?, with Marco Ottaviani: pdf (112 kB). Forthcoming in the American Economic Review.
• Noise, Information and the Favorite-Longshot Bias in Parimutuel Predictions, with Marco Ottaviani: pdf (277 kB). Forthcoming in the American Economic Journal: Microeconomics. Also reviewed in NAJ Economics, 11:3.

Working Papers

• Aggregation of Information and Beliefs: Asset Pricing Lessons from Prediction Markets, joint with Marco Ottaviani, updated July 2009.
• Informational Herding and Optimal Experimentation, joint with Lones Smith, updated April 2008.
• The Timing of Parimutuel Bets, joint with Marco Ottaviani, updated May 2006.
• Parimutuel versus Fixed-Odds Markets, joint with Marco Ottaviani, draft April 2005.

If you are looking for other working papers, please email me.

Professional

• I am director of our PhD Program in Economics.
• I am director of the Finance Research Unit (FRU).
• I am a member of the Danish Center for Accounting and Finance (D-CAF).
• I am co-editor of Economica.
• I am an associate editor of Macroeconomic Dynamics.
• I have a grant from the Danish Social Science Research Council to study Prices and Probabilities in Prediction Markets during the period 2007-2010.
• I organized a research workshop on prediction markets on December 17-18, 2008. Download the program.
• I organized a Workshop on Informational Herding Behavior on September 16-18, 2005.
• Towards the end of its funded period, I was heading the Dynamic Economic Theory network.

Teaching

Fall 2009

I lecture in the fourth-year Corporate Finance Theory course for the econ students.

Other teaching

• Spring 2009: I lectured in the fourth-year Financial Markets course for the econ students. Other versions of this course were the Spring 2007 Financial Markets course, an earlier Financial Markets course, as well as a math-econ course on Strategic Trading in Financial Markets.
• In the Spring 2009, I also contributed lectures to the course on Private Equity and Hedge Funds. Here is an earlier version of the Private Equity and Hedge Funds 2007 course page.
• Fall 2008: I lectured in the fourth-year Corporate Finance Theory course for the econ students. An earlier version of this course was the Corporate Finance half of Finance Theory in the Fall 2006. In the Spring 2008, I taught a fourth year course on Corporate Finance Theory for the math-econ students.
• Spring 2006: For the math-econ programme I offered an advanced course on Games and Information.
• Fall 2004: The third-year course on Dynamical Economics for the math-econ students.
• Spring 2000: The micro half of the first-year Economics 1 course for our math-econ students.
• I have frequently taught a third-year course in Microeconomics for the econ students.
• Likewise, I have frequently taught a second-year course in Microeconomics for the math-econ students. See also the different Microeconomics 2008, Microeconomics 2006, and Microeconomics 2005 versions.
• I have also run seminars on Information and Incentives, on Financial Markets, and on Finance in general.
• 1995-1997: In Oxford, I taught a topics course in Game Theory. In the third round, the topics were Folk Theorems, Individual and Social Learning, Reputations, and Evolutionary Game Theory. Here is the 1997 game theory reading list in postscript format (101kB).

Links

General Economics The Social Science Information Gateway, Bill Goffe's Resources for Economists on the Internet, World Wide Web Resources in Economics (WebEc), Inomics, Economics Departments, Institutes and Research Centers in the World.

Economics Research Social Science Research Network, IDEAS - working paper overview, Research Papers in Economics (RePEc), EconPapers, Economics Working Paper Archive (EconWPA), Economics journals on the web. You can also go and test yourself on the exciting JEL Classification System!

Libraries in Copenhagen The Royal Library with its database REX; our own Economics Institute Library and its database; the University Science Library and its database Cosmos; the Copenhagen Business School Library with its database HERMES; or The Engineering Library at the Technical University of Denmark.